(Provisional Translation)
July 3, 2009
Financial Services Agency

FSA and CIRC hold a dialogue

The Financial Services Agency (FSA) and the China Insurance Regulatory Commission (CIRC) held today a meeting of dialogues in Tokyo. The CIRC Chairman Wu Dingfu and the FSA Commissioner Takafumi Sato led the ｄialogue, together with other officials from both organizations.

In this dialogue, the FSA and the CIRC discussed various issues, including regulatory matters, risk based solvency reforms and impact of the current financial turmoil. The two organizations shared the views and would enhance further cooperation, especially in the following areas;

• Support for the International Association of Insurance Supervisors (IAIS) to develop common assessment framework for internationally active insurance groups
• Contribute to the global financial stability
• Enhance the technical assistances into the emerging jurisdictions, especially in the context of risk based supervision and risk based solvency implementations.

Through the dialogue, the two organizations deepened their mutual understanding and enhanced their cooperative relationship.